grace period

Definition of grace period

: a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation

Examples of grace period in a Sentence

The terms of the loan allow for a ten-day grace period.

Recent Examples on the Web The menswear retailer Wednesday skipped a $6.1 million coupon payment on $600 million of senior notes maturing in 2022, starting the clock ticking on a 30-day grace period. — Soma Biswas, WSJ, "Tailored Brands Skips Bond Payment, Starting 30-Day Clock," 2 July 2020 Brown’s original order did not include a grace period to pay back-rent. — Jamie Goldberg, oregonlive, "Oregon lawmakers extend commercial, residential eviction moratorium through September," 29 June 2020 The company had a 30-day grace period before it would be considered in default. — Matt Egan, CNN, "Fracking trailblazer Chesapeake Energy becomes the biggest oil and gas bankruptcy of the pandemic," 28 June 2020 Google is also extending its billing grace period to 60 days beyond the billing date. — Mark Hachman, PCWorld, "Data caps on AT&T, Comcast, T-Mobile will return June 30," 26 June 2020 School districts will also be given a 12-week grace period for attendance as school districts adjust to the new instructional methods. — Chevall Pryce, Houston Chronicle, "Texas Education Agency advises Cy-Fair ISD, other school districts on attendance for 2020-2021 school year," 26 June 2020 First, there will be a three-year grace period after the law is enacted. — Lucinda Shen, Fortune, "The U.S. clampdown on Chinese companies is an unexpected windfall for Hong Kong," 26 June 2020 Dominion Energy in Virginia plans to extend its grace period through October 14 while Southern California Edison is waiving disconnections and late fees until April 2021. — Paul Davidson, USA TODAY, "Bye $600 jobless benefit, eviction reprieve, cash for small firms. COVID-19 relief ending.," 23 June 2020 In the past few months, most hospitals have put that grace period to good use, Dorian said. — Deborah Netburn, Anchorage Daily News, "As America reopens, here’s how to assess the risk of shopping and dining out," 17 June 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'grace period.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Keep scrolling for more

Learn More about grace period

Dictionary Entries near grace period

grace with one's presence

gracias

Gracilaria

Statistics for grace period

Last Updated

6 Jul 2020

Cite this Entry

“Grace period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/grace%20period. Accessed 8 Jul. 2020.

Keep scrolling for more

More Definitions for grace period

grace period

noun

English Language Learners Definition of grace period

: an amount of extra time that someone is given to pay a bill, finish a project, etc.

See the full definition for grace period in the English Language Learners Dictionary

grace period

noun

grace pe·ri·od

Legal Definition of grace period

: a period of time beyond a scheduled date during which a required action (as payment of an obligation) may be taken without incurring the ordinarily resulting adverse consequences (as penalty or cancellation): as

a : a period of 30 days or one month during which premiums on insurance policies may be paid without penalty

b : a period of ten days during which certain security interests (as those in fixtures) must be perfected in order to have priority over conflicting security interests under Article 9 of the Uniform Commercial Code

— called also days of grace